GAINSCO Insurance Review

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Selling insurance across several Southern states, GAINSCO Insurance focuses on basic coverage in the non-standard market. Their personal insurance policies are designed to get drivers legal at an affordable price even with a blemished record.

GAINSCO Insurance Summary

GAINSCO Insurance was founded in 1978 in Dallas, Texas. Their insurance subsidiary, MGA Insurance Company, Inc. is also based out of Texas. The company also has an office in Miami, Florida, where they provide coverage and writes insurance in several other states, including:

Arizona

Georgia

New Mexico

Oklahoma

South Carolina

Tennessee

Texas

Virginia

GAINSCO focuses on the non-standard auto insurance market, which means their customers are those who would be considered high risk at most insurance companies. This includes drivers who have blemished records, have an international driver’s license, or are simply inexperienced.

The company sells bare bones liability insurance policies through independent agents across the states they serve. Full coverage is also available. GAINSCO is licensed in almost every state.

GAINSCO is well known for sponsoring a successful auto racing team, Bob Stallings racing.

GAINSCO Auto Insurance

Auto insurance is GAINSCO’s only product, and their emphasis is on basic insurance. Their policies aim to provide drivers with the legal minimum required to be on the road, which is often what those in the company’s target market want.

There is little detail available regarding the available coverage, beyond the fact that they offer liability only and full coverage policies. This type of insurance company usually steers clear of gimmicks and add-ons, and offers mainly the basics.

GAINSCO offers discounts, although they are not listed on the website. Their policies are designed to be flexible and fit the needs of drivers who have had difficulty getting coverage elsewhere.

They offer low down payments and flexible payment options to help keep insurance affordable for a market that struggles with high rates.

GAINSCO Insurance Rates

GAINSCO promises low prices, but it’s important to remember that low prices in the non-standard market are not the same as what would be considered a low price for a standard or preferred-risk driver.

Since the company does not do business in our usual rate test areas, we are unable to provide a comparison quote. However, rates can be expected to be higher across the board with this company versus a standard insurer because they have to spread the overall costs across a higher risk pool of drivers. Higher risk generally means more claims.

Non-standard auto insurance quotes should always be compared with other non-standard companies for a true apples-to-apples comparison. Most drivers who qualify for standard policies will not find the rates to be competitive, as they are not the target market for these products.

For a company of this size, it is unusual to see a claims department that is not open 24/7.

There is no option to report a claim online, again unusual for such a large company. Online claims reporting would make up for the lack of a 24-hour phone line and is something we generally expect to see from any insurance company of a decent size. Even smaller regional insurers are beginning to offer this service; the lack of it really stands out.

There is no information regarding the claims process on the GAINSCO website, although it probably follows the standard procedure of reporting, investigating, repairs, and settlements.

There is also no information on whether or not GAINSCO has a preferred repair shop network offering guaranteed repairs. This is very common and it would be unusual for a company of this size not to offer this option.

Consumer Research and Complaints

Although GAINSCO is not accredited on the Better Business Bureau website, they do have a B rating. This rating isn’t ideal for a company on this site. The BBB states the reason for the rating is due to the company failing to respond to a few complaints. The site lists a total of 42 complaints in the past three years, 12 of which have been closed in the last 12 months.

GAINSCO does have some complaints out there. They seem to be focused on claims service, which is very common for both standard and nonstandard insurers.

Nonstandard insurance companies often see a lot of complaints from drivers who were insured with other companies and involved in an accident with the nonstandard insured. These complaints nearly always involve slow claims service, lack of responses, and even refusal to pay. The reason for this trend with nonstandard insurers is unclear, but it may be partially due to the low coverage limits often carried by nonstandard drivers.

That said, GAINSCO really doesn’t have a large number of complaints considering the size of the company. As a relatively large regional insurer, they seem to have a fairly good reputation.

Financial Strength

Rating Company

Grade

Financial Outlook

AM Best

B+

Stable

Fitch

N/A

N/A

S&P

N/A

N/A

Bottom Line

GAINSCO isn’t recommended for anyone who qualifies for standard insurance, however, for the nonstandard market in the company’s coverage states, they are well worth considering. Reviews indicate their rates are competitive, and while we never recommend taking out legal minimum policies, for those on a tight budget and facing nonstandard rates, GAINSCO is probably a good choice.

GAINSCO does need some improvement in one major area – claims. We’d like to see 24-hour service at the very least, if not online filing.

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Review Information

Summary

Reviewer

Eric Stauffer

Review Date

2017-06-26

Reviewed

GAINSCO

Author Rating

2

About Eric Stauffer

I am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

Reader Interactions

Comments

I had one of their insured “leave her car in reverse” get out of the car, get the baby out of the backseat and go inside. The car rolled out of her driveway into mine and hit my 2017 Nissan Frontier with less than 3000 miles on it. Their insured took one week to get in contact with them while in the meantime I had done my part by calling the police to report it, contacted my insurance company about the accident…took time off from work to wait on their adjustor who said she would be at my house between 8 and 9 am that meant 8:57 am…lost 1 1/2 hours of work. All and all I expect that I will lose at least a day of work handling this. They could care less. They did decide to cover the claim but I can only take my truck to the collision shop on Monday or Tuesday….the repairs per their estimation should only take 2 days…if longer than two days I have to pay the rental car. Customer service sucks and upon reading these reviews I have to agree…if you get into a collision with one of their insured….good luck…I am just thankful that I am not in the hospital and medical bills adding up. I would be forced into bankruptcy. I simply wish that my insurance company would have handled it and then gone after them. HOPE I NEVER HAVE TO DEAL WITH THEM AGAIN!!

Gainsco is horrible. Husband and I were on our 50th anniversary trip and stopped at Houston. We were hit in the rear of our car and were pushed into a live electric pole. Car was totaled. Driver was drunk at 10 a.m. He was an illegal, with no insurance who was running away from the accident when witnesses stopped him. He went to jail and then was deported back to Mexico. Car was insured by Gainsco and it took nearly TWO YEARS to settle, with OUR insurance company paying all costs. Owner was not cooperative and had to be served by taping papers to his front door. (We had excellent attorneys.) Because owner said he had not given ‘permission’ for driver to use his car, Gainsco said they were not liable. I’m sure permission was not the real issue but the sub-standard junk insurance they sell. What should have been a wonderful trip was greatly diminished by Gainsco. We carry uninsured motorist insurance which paid all claims. Gainsco should not be allowed to do business anywhere. I have no doubt that the insured knew his car was being used by his drunk friend and Gainsco saw a way to get out of paying a dime. Don’t know how the owners/employees sleep at night. Gainsco should be shut down by the authorities. Needless to say, a State we were excited to see for the first time has left horrible memories for us. Just thankful we were not badly injured.

I have been with Gainsco company for over 3 years. I recently was involved in an accident and when I reported it to claims I was treated pretty badly. I spoke to two different adjusters, [Redacted] and [Redacted] and they both had zero Customer service skills, sympathy and cared less about what I had to say, but only wanted me to make a recorded statement. They did not want to deal with the accident, in other words, I did all the work. I worked with the other person’s insurance and to be honest here, they treated me 100% better than “My people” did. I would have liked guidance through the ordeal, but it did not turn out that way… Not crying here just want to make sure people leave this “company” to avoid such experience.

This insurance company sucks.So i got a quote for an auto policy and I like what I heard from them so I went along with it.They gave me a good discount with me having a policy for having six mouth of coverage with my prior Insurance Company.When I sent them my declaration page witch showed from April 24 2017 to Oct 24 2017 they said that was not good enough proof for the discount so my insurance went up.wait What! That six mouth.I don’t understand. Smh I am Furious

This is the most horrible company there driver rear ended me. And the adjuster is lied to me on several occasion. How can you accept liability but not coverage. When i called and my lawyer they alway tell me coverage is pending or the driver who it me is under investigation. I am emotional stress over this i wish there is some kind of help out here to stop these people

Absolutely terrible experience. I was hit by one of their insured drivers. Police informed me that they would not permit me to drive the vehicle for safety concerns. I had the vehicle towed. Took two days for them to contact me. When they did, they informed me that they would not pay for the tow, or the storage, and that it was not up to the officer to determine if the vehicle was able to be driven, so they were not obligated to pay. Threatened to call my attorney. They gave in. Had it towed to a body shop, had to fight for a rental. Again, another threat to call attorney in order to make this happen. Hurricane Irma came through, destroyed our town, but amazingly, not my car. Claims adjuster calls me today, the day after Irma, and says the body shop is taking too long, they will not pay for a rental any longer, starting today, it’s all on me. Once again, said, I think I will call my attorney. The adjuster says “Please do. I hope you give them my number and have them call me directly. I would absolutely LOVE that.” and then hangs up. Needless to say, I have filed with my insurance company, State Farm, who is going after them, and my attorney is on the case as well. SCUMBAG AGENTS THAT WORK FOR A SCUMBAG COMPANY THAT INSURES SCUMBAG DRIVERS !

Absolutely terrible company. Survives off quick sales to marginalized customers then dismisses them after the check clears. Try to cancel your policy and you’ll be lucky to get a minimal percentage refunded.

I am not even sure if this company even exist. There has to be someone who monitors insurance companies. This company needs to fined and put out of business. One of their insurers backed into my car, I was concerned seeing the car was older and has no buiness still being on the street. Seeing they had insurance relieved me a bit. That is until I made the first call, apparently it was transferred to a person personally cell phone. She gave me the information where to call, it’s been downhill every since. I will say the adjuster came out right away. That was like 3 maybe 4 weeks ago. I cannot get the person handling the claim nor the supervisor on the line. Bad company, I guess these days anyone can start an insurance company and not pay out claims. Does anyone know where to file a complaint against insurance companies? I’m looking online, hopefully for Gainsco they come repair my car before I find where to file complaints.

I was hit by one of the customers with Gainsco Insurance company back on February 16, 2017. I cant seem to get anyone from this company to respond to me in regards to the status of my claim. I have been dealing with a [Redacted], and [Redacted]. both of them are non caring people and I hope they never get hit by one of their customers. They are a horrible insurance company, and I would never do business with them. if you get hit you may want to deal directly with your own insurance company and have them to collect the money from this company. They are a Fraud in my opinion.

I too have an issue with them,I was driving my cousins car their customer cut me off turning left, she admitted to the sheriff that it was her fault. The Gainsco adjuster declared that I was at 70% and her at 30%, they do not want to pay my medical bills or my lost time. I have requested a letter from them with the denial so I can turn over to my lawyer.. Maybe everyone should get together and file a class action suit against them..

DO NOT USE GAINSCO. Terrible car company. Never refunded me when I requested a refund. And are only refunding me 16% of my original payment after only using them for 8 days. Garbage company and bad policies. I will celebrate the day they go out of business with party hats and balloons.

Absolute worst company to deal with (not my insurance but dealing with them through the person who hit me). First of all they found the cheapest possible fix to fix my vehicle, not to mention the part came in to dealership in terrible condition. The guy I have as a contact for Gainsco never has anything to say for there mistakes and will not work with me. I go to get my rental car and they are not willing to cover all the fees so I am now having to pay outta pocket to keep the rental car.

To ganisco thus said the lord .This company will never prosper for the lies, deceitful things, stolen money, bare of the false witness, or the unjustly action of your company. Thus said the lord you will rep what you’ve sown. Your company has displeased God in so many ways the way your company con innocent people out of whats rightfully there’s. God say remember what you have done to thousands he’s going to do to you i pray for your company and the employees you have there that god shows you mercy. I forgive your company for stealing money from me and my money.Thus said the lord the greed of your company wont prosper I pray for God to save all your souls before its to late have a blessed day

This is the absolute WORST insurance company I’ve ever had to deal with! First off, there customer service sucks! I could never get a hold to a rep over the phone, it would either disconnect or not send me to one! Second off, the website has no other way of contacting them besides the lousy phone number (which you can never get a hold to someone on) and thirdly, the rates are horrible! I went from $160 to $186 to $190 in ONE CALENDAR YEAR!!! Ridiculous!

I was hit by a drunk driver on 12-22-16! Took a week to get a rental which I ended up having to pay half on it, still have yet to speak to an adjuster, and the adjuster that viewed my truck only listed half the damages, and altered the mileage on his paper work to keep from having to total my vehicle out! The most crock of [Redacted] company I have used so far!!!!!

If you get in a wreck and see the other vehicle has GAINSCO be sure to call the police and get an official statement. This company is pathetic and goes against the inherent principles of insurance. It might as well be a Bernie Madoff scheme.

Horrible service! Been dealing with [Redacted] in claims department. They love talking to inexperienced young kids knowing they don’t know what they are dealing with. She has been trying everything to get around paying to have my sons car fixed when he wasn’t at fault! It clearly states in the police report that he wasn’t at fault!! She has asked him questions he doesn’t know about then tells him well she will have to look into its more! This is straight BS!! Time to lawyer up and DEFINITELY CHANGE INSURANCE! I would NEVER recommend this ridiculous insurance to anyone!!! Your paying them to NOT help when ur in an accident

I agree. I was travelling out of state 2 weeks ago and a deer hit my car and totaled it. they said because i was out of state they have to investigate. i pay for rental insurance and was told i could not have a rental because they are investigating. So i have been stuck in another state unable to get anywhere much less home.

Left messages for adjuster [Redacted] He did not return calls. Over 10 minutes on hold for “customer service.” [Redacted] finally answered. Told her adjuster had not returned calls and we needed a rental while vehicle was being repaired. She couldn’t (wouldn’t) help. Asked for her supervisor; was told [Redacted] was on vacation and there was no one else to talk to me. Good luck if one of their customers runs into your car.

Gainsco is absolutely the worst auto insurance company I have ever dealt with. Lied to me about everything from the very beginning. I waited all day for the adjuster to come then got called at the end of the day saying he wasn’t coming and could I do his job for him and send them pictures of my damage. Then they lowball my claim and the body shop had to keep going back to them for supplemental repairs. They told me they sent me a check but 8 days later I still didn’t have it and had to pay part of the bill out of my pocket to get my car while I wait for their check to come. They are a disgrace to the insurance industry and I implore everyone to avoid them at all costs.

This is the most ridiculous company I’ve ever had to deal with from the start it was like pulling my teeth out of my own head to deal with them. Didn’t want to give me a rental right away when I’m 8 months pregnant and I needed one because after the person who hit me with their Insurance dented my door in to where I couldn’t get in and out of the car. Then after that the estimate was way under so it took forever for the car to get finished because the people fixing our car had to go back and forth with this company everything they didn’t estimate the price high enough. On top of all that we finally get ourid car back and get charged for 3 days of having the rental car..this insurance company blames the people who fixed our car said they didn’t tell them we needed more time. Even if that was true how come nobody contact me and let me know that!

It’s funny that you cancelled my policy on June 8, 2016 and deposited my check on June 6, 2016 What Customer Service Department I can’t get ahold of anyone with a email address. This company is a [Redacted]!! Never had a claim of any kind. [Redacted]

Hi yes trying to put in a complaint because my insurance went up from 106.00 to 125.00 and i also get direct deposit and only signed up for you all to only take the $106.00 out of my account never did i give you all permission to talk out more. I have in writing what should be taking out that is stealing from me so that is fraud u need to do something about that because what if i didn’t have the money in my account i would have received an over draft charge. I think before it goes up like that you should really give your clients a heads up. So because of that issue i’am no longer going to continue with your service.

I’ve had gainsco for over 8 years now and the 1 time my vehicle was involved in a accident they want to investigate and make me to be some kind of lieing criminal! Someone hit my vehicle and fled the scene but gainsco is refusing to fix my vehicle or pay my passengers medical bills! That’s why I pay insurance at least that’s what I thought! This is a horrible company and I will never deal with them I’m hiring a attorney.

If you want to be able to hit people while driving and not be found at fault, this is the insurance company for you, all you have to do is lie to them, they’ll even ignore the police report of the accident so they don’t have to pay on a claim.

Was a passenger in a car that was insured by this company. Its been 7 weeks and ive only heard from them once..Have left over 20 messages or more but they never return calls or are putting any effort into settling my claim… Worst insurance company ive ever had to deal with..Rate them on a scale from 0 to 10, I would rate them a minus 10 (-10). Wouldn’t recommend them to anyone…..

Its been almost an entire month since my vehicle has been stolen and recovered. I havent heard an offers on my replacement check for the full coverage I’ve been paying each month. Only that Gainso has decided to further investigate the minor arson damage on my vehicle before they pay me back for my loss. They don’t even care that I’m a disabled veteran or a college student who really needs access to a vehicle at all time.

I know what u mean .I was in an accident with a policy holder of there’s. .It has been over 6 weeks since the accident and they are refusing to pay my hospital bills or compensate me for lost time at work and other damages…The policy holder has been without a car since the wreck and they dont care if he has transportation or not. He has exalted all his funds so he cannot continue to pay for rental..He has kids that have no transportation because the insurance company is holding up the claim some investigation crap also…Would not recommend this insurance company to anyone….scale from 1 to 10, they receive a MINUS 10 (-10) That Bad

Theft protection almost always falls under the comprehensive coverage part of a car insurance policy. If you own your car outright, this coverage is typically optional. If you make payments on a bank loan for the car, they typically require you to have comprehensive coverage as part of your policy.

To summarize, a car stolen without comprehensive coverage will typically not be covered by the insurance company.